Top 10 Unicorn Startups of India:
India is buzzing with excitement in the world of startups. More and more people are venturing into business, eager to create something of their own. With strong investor support and an entrepreneurial spirit, launching a startup has become much easier. As a result, India is now home to over 100 unicorn startups—companies valued at over billion. In fact, India ranks third globally, just behind the U.S. and China, in the number of unicorns.
Here’s a closer look at the top 10 unicorn startups in India that are making headlines and shaping industries.
1. InMobi
Founded in 2007, InMobi is a mobile advertising company based in Bengaluru. It helps businesses reach customers through mobile ads and was the first Indian company to achieve unicorn status. Led by founder Naveen Tiwari, InMobi has grown rapidly, even launching a subsidiary called Glance, which also became a unicorn in 2020.
2. Flipkart
Flipkart is one of India’s biggest online shopping platforms, offering everything from electronics to clothing. Started in 2007 by Binny Bansal and Sachin Bansal, Flipkart has become a household name for online shoppers. In 2018, Walmart acquired the company for billion, and by 2023, its valuation soared to billion, making it one of India’s largest unicorns.
3. Dream11
If you’re a fan of fantasy sports, you’ve probably heard of Dream11. Founded in 2008 by Bhavit Sheth and Harsh Jain, Dream11 allows users to create fantasy teams for cricket, football, and other sports. With millions of users and a valuation of billion (as of 2021), Dream11 is India’s top fantasy sports platform.
4. Ola
Founded in 2010, Ola has transformed the way people book taxis in India. Co-founded by Bhavish Aggarwal and Ankit Bhati, Ola has become a go-to service for ride-hailing. It operates in multiple cities across India and has expanded internationally as well. As of 2020, Ola’s valuation reached billion, securing its place among India’s top unicorns.
5. OYO Rooms
OYO Rooms has made booking hotel rooms online easier than ever. Launched in 2013 by Ritesh Agarwal, OYO quickly became the largest hotel chain in India, offering affordable stays across the country. With a valuation of billion (as of 2021), OYO continues to grow, investing in properties and expanding its reach.
6. Swiggy
Craving food from your favorite restaurant? Swiggy has got you covered. Founded in 2014 by Sriharsha Majety and Nandan Reddy, Swiggy has become a leading food delivery service in India. With its easy-to-use app and fast delivery times, Swiggy has made ordering food online a breeze. By 2022, Swiggy’s valuation reached $5.5 billion.
7. PhonePe
Launched in 2015, PhonePe is one of India’s most popular mobile payments platforms. Co-founded by Sameer Nigam and Rahul Chari, PhonePe offers a range of services from bill payments to money transfers. As of 2023, its valuation hit $12 billion, making it a top player in India’s growing digital payments space.
8. Zomato
Founded in 2008 by Deepinder Goyal and Pankaj Chaddah, Zomato is another major name in India’s food delivery industry. With its wide network of restaurants and user-friendly platform, Zomato has made ordering food as simple as a few clicks. As of 2023, Zomato’s valuation stood at $13 billion, cementing its position as a top unicorn.
9. Freshworks
Freshworks is a software company providing business solutions to improve customer service and operations. Founded in 2010 by Girish Mathrubootham, Freshworks has grown into a major player in the software industry. In 2021, it achieved a valuation of $10 billion.
10. Nykaa
Nykaa is India’s leading online platform for beauty and wellness products. Launched in 2012 by Falguni Nayar, Nykaa has become the go-to site for consumers looking for everything from skincare to makeup. With a valuation of $8 billion in 2021, Nykaa has not only transformed the beauty industry but has also become a beloved brand in India.
| Rank | Company | Industry | Founding Year | Founder(s) | Valuation (as of latest available data) |
|---|---|---|---|---|---|
| 1 | Inmobi | Mobile Advertising | 2007 | Naveen Tiwari | $12-15 billion (as of 2021) |
| 2 | Flipkart | E-commerce | 2007 | Binny Bansal, Sachin Bansal | $37 billion (as of 2023) |
| 3 | Dream11 | Sports Fantasy | 2008 | Bhavit Sheth, Harsh Jain | $8 billion (as of 2021) |
| 4 | Ola | Ride-hailing | 2010 | Bhavish Aggarwal, Ankit Bhati | $6 billion (as of 2020) |
| 5 | OYO Rooms | Online Hotel Booking | 2013 | Ritesh Agarwal | $9 billion (as of 2021) |
| 6 | Swiggy | Food Delivery | 2014 | Sriharsha Majety, Nandan Reddy | $5.5 billion (as of 2022) |
| 7 | PhonePe | Mobile Payments | 2015 | Sameer Nigam, Rahul Chari | $12 billion (as of 2023) |
| 8 | Zomato | Food Delivery | 2008 | Deepinder Goyal, Pankaj Chaddah | $13 billion (as of 2023) |
| 9 | Freshworks | Business Software | 2010 | Girish Mathrubootham | $10 billion (as of 2021) |
| 10 | Nykaa | Beauty and Wellness | 2012 | Falguni Nayar | $8 billion (as of 2021) |
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